The “LYOPAY Update” is a monthly report that focuses on the updates of the LYOPAY platform within the previous month. This report will cover all the updates including achievements, news, new releases, press releases, media coverage, and anything else to bring to the LYOPAY community’s notice. All this will be put in an easy-to-read monthly digest.
We hope you will journey with us through this exciting time at LYOPAY and learn of the many things we have in store for our community in the future.
Increase in Client Number
Over the past quarter (Q3), LYOPAY has seen phenomenal growth in its userbase with a 21% increase in active customers. We refer to “active customers” as those who fully complete transactions on the LYOPAY app. We have had over 10,000 downloads on Google Play Store and over 5,000 downloads on the Apple App Store.
LYOPAY in the Media
We have recently been receiving praise in the media for our products by major crypto news agencies. Overall, LYOPAY has so far been mentioned about 40 times in the news media. This has been a great achievement for us, further validating the potential in our products. Below you can find a few recent articles; stay update about all article on our social channels https://linktr.ee/Lyopay
We are very close to launching the Vault Contract service. We are currently at the legal phase of the launch of the Vault Contract. Soon the you will be able to buy EUR Stable & USDT coins directly from the app. The Vault Contract service allows to participate in the staking of stable coins. The more vaults you possess, the more discounts/rewards on our platform you will get. The Vault Contract service will commence at the beginning of November 2021.
Global Referral System
We are in the final stages of our new referral system called the “the Global Referral system”. This is a unified referral system that will work globally. The referral system will be inclusive of all areas, such as LYO Travel, LYO Trade, and so on. There will be a single referral link: by registering on one of the platforms, for example LYOPAY, users automatically obtain registration in all areas. Such a global system allows for rapid growth, which can include people with different needs. The promoters will therefore be able to promote each service according to the potential customer and grow their network.
We will now be providing a new service called “API-as-a-Service”. We are in the last phase of launching this service, and should be available by next quarter. Our new API will allow your wallet to connect with other coins in other wallets. This service is specifically provided for our corporate customers as they will not need to procure a license to utilize LYOPAY’s financial ecosystem. The API will allow for our corporate customers to use the LYOPAY system straight through our app and conduct their financial transactions.
Our new design for the app and website is done. But it is yet to go live. The reason behind this delay is that we are still waiting for a reply from our card provider, who have to give us the go-ahead related to the design we are using. Hopefully by the end of October 2021, we will have the issue sorted and launch our new website and app. The new design will give you a more professional experience on LYOPAY.
White Paper Updated
The LYOPAY white paper was last published in July 2021. We have made several new updates to the white paper as LYOPAY and LYOCREDIT evolves. Features such as “Cloud Minting” and “Social Minting” have been added, increasing the scope of LYOPAY to a wider audience.
The tokenomics of LYOCREDIT has also been updated as we tweak the allotment of tokens to better accommodate our strategy. This change will allow for better utilization of the tokens as well as positioning us to make sure that the future of LYOCREDIT is bright.
Make sure to read the updated whitepaper on the LYOPAY website: https://lyopay.com/company
New cards, lost cards, and new card numbers
The new LYOPAY card is now available and we have already received a number of orders for the new physical cards. Though we have been informed of the loss of some orders, at a total of 1300 cards, and we are in contact with the courier agency to resolve this as soon as possible and make sure this does not happen again.
Members who have ordered the card and did not receive a physical card will receive a new one as a replacement. The number will be different from your current one, as it is not possible to create a duplicate of the lost card due to a security issue. The new card will be reflected on your account (with the new number) and your former virtual card will no longer be active.
Remember, it is not necessary to place a new order if you have still not received the card from your first order. After working with the courier agency, we will deliver the new card based on your initial order.
We will also be hosting a competition in the next few weeks, inviting new designs for the cards. We hope you will join us and get a chance to display the creativity of the LYOPAY community.
We are currently working on LYOFI to launch the new product: minting. LYOFI will allow you to use our two new methods of minting LYOCREDIT tokens: Social Minting & Cloud Minting.
⦁ Social Minting: We believe that the most important aspect of minting is distribution. This new and novel method of minting LYOCREDIT tokens will allow for more people to be involved in the minting process. The idea is to have members of our community mint tokens through “user interaction” rather than the complex method of mining. By using social minting, we will be able to include small individuals to be a part of minting and have them receive tokens as rewards for their action. This will be starting as a totally free service for our users to participate in. With Social Minting, anybody can be a part of minting.
⦁ Cloud Minting: With this type of minting, we are bringing to the community the option of renting hardware to mint tokens. By renting the hardware that is currently minting LYOCREDIT, the renter of the hardware will get the rewards from the work of minting. You will rent and share the hardware with LYOFI and the work will be done for you. What makes us stand out from our competitors with this product is that we will be more transparent on how much each cloud unit is worth and how much each unit is working.
To learn more about the details of both Social and Cloud Minting, read on: https://www.lyofi.com/
LYOTRADE — Crypto Trading Made Easy
We are proud to announce that we are in the final testing stage of our professional cryptocurrency exchange — LYOTRADE. It took the hard work of 18 people and nine months for the preparation of this product, and we believe we will provide some of the best features available in any of the other exchanges. The testing phase will last for a period of four months, after which we will finally launch our own exchange.
For any exchange to be successful, liquidity is the most important aspect. LYOTRADE will offer liquidity from the top 300 exchanges in the world. Our exchange will provide liquidity for all stages of a token. More and more brokers are joining us, and we believe that the exchange will grow very rapidly.
We boast 30 risk control mechanisms installed in the exchange, making it a safe place to trade, and a whopping 794 tokens available on the exchange platform. The wallets supported by LYOTRADE are: digital account, OTC account, contract account, balance of margin account.
LYOTRADE will be available both on desktop and mobile.
Stay tuned with our social media channels to find out about the launch of LYOTRADE.
LYOTRAVEL — A New Way to Travel With Crypto
Our philosophy is to enable more people to buy a diverse number of things using cryptocurrencies. We believe that Tourism is a very important sector and we would like to promote the use of cryptocurrencies within the tourism industry. For that purpose, by next month we will be launching our new travel service — LYOTRAVEL.
LYOTRAVEL is a fully licensed online travel service that makes it easy to book flights, cars, hotels, and plan your vacations. It will be simple to use, will offer the most competitive prices, use discount codes and vouchers — and most importantly — be able to pay in cryptocurrencies.
Pay with your favorite cryptocurrencies like LYOCREDIT, BTC, ETH, BNB, or with your LYOPAY card.
LYOTRAVEL. Travelling made easy.
Thank you for your attention. We will publish the next update in a month, in the second half of October.
Share information, and stay updated on social channels.
See all pages link here: https://linktr.ee/Lyopay